Verizon reports solid Q2 results as tablets offset slowing smartphone sales

Verizon reports solid Q2 results as tablets offset slowing smartphone sales:

Verizon on Tuesday posted second-quarter results that topped Wall Street's expectations as huge tablet sales offset the continued decline of cell phone contract additions. Verizon posted earnings of $1.01 per share, or $4.34 billion in profit, which is down significantly from the $5.2 billion profit it recorded in the year-ago quarter. Revenue climbed nearly 6% to $31.48 billion, however. The nation's top carrier only added 304,000 net new cell phone subscribers in the quarter, but 1.15 million new tablet additions certainly helped to bolster the company's results.

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